2024-04-28 19:00:00 ET
Summary
- Meta Platforms slumped after the Q1'24 earnings report projecting increased spending on AI and a rounding error miss on Q2 revenue guidance.
- The company's investment in the future and potential TikTok ban catalyst make it a bullish investment opportunity.
- The stock trades at only 16x normalized EPS for '25, making the stock cheap again.
Meta Platforms ( META ) slumped following a Q1'24 earnings report where the company projected a new round of spending on AI. The stock rebounded off the 2022 lows below $100 due in part to controlling spending and ushering in a year of efficiency. My investment thesis is Bullish on the stock following this dip, as the social media company invests in the future and has a big potential TikTok ban catalyst. ...
Read the full article on Seeking Alpha
For further details see:
Meta Platforms: Don't Fear AI Spending